I have to be careful with figures as Diploma's correspondence to me is marked "WITHOUT PREJUDICE" and I don't know exactly where I stand on sharing what info. What I can say is the contract was "The Precinct" in Ogilvie Rd, Mt Pleasant and the contract was 400K+. They have entered into payment plans with me previously but managed to maintain these payments.
What concerns me with builders that have a high turnover with little margins is if they get paid monthly and don't pay subbies for 60-90days (as was common with Diploma) that's a lot of peoples money they are playing with, using turnover to keep going.
If Diploma are saying they have $8m in cash and that all subbies have been paid up 31 Dec 2015 but they still owe me money from September 2015, are they counting my money and maybe other subbies in that $8m? If so $8m doesn't go far. (i am only using stockspec's figure of $8m).
